Richmond Mutual Bancorporation, Inc. (RMBI) Stock

Richmond Mutual Bancorporation, Inc. (RMBI) is a Financials stock trading at $15.81 (as of 2026-08-21), with a market capitalization of $166.02M and a trailing P/E of 13.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Richmond Mutual Bancorporation, Inc. operates as a holding company for First Bank Richmond, which provides deposit accounts, lending products, and lease financing. It also offers fee-based services such as trust and estate administration, investment management, retirement plan administration, and private banking through banking offices in Indiana and Ohio.

Understand Richmond Mutual Bancorporation, Inc.: how it makes money

Richmond Mutual Bancorporation, Inc. is a bank holding company that earns money by taking deposits and making loans, including multi-family and commercial real estate, commercial and industrial, construction and development, residential real estate, consumer loans, and by operating a lease financing business and providing fee-based financial services.

Bank profits are driven by how efficiently the company turns deposits into earning assets, while credit performance on loans and leases stays within expected losses, which is reflected in the Efficiency Ratio and credit metrics like Nonperforming Loans and Leases, Allowance for Credit Losses, and Allowance Coverage of Nonperforming Loans and Leases.

Business quality (Mixed): The company provides clear operating KPIs tied to core banking drivers (Efficiency Ratio) and credit quality (Nonperforming Loans and Leases, Allowance metrics), plus portfolio indicators for leasing and wealth management.

Valuation: At 13× earnings, RMBI trades in line with the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Credit quality indicators look contained: Nonperforming Loans and Leases are 0.02 USD_B, and Allowance Coverage of Nonperforming Loans and Leases is 95.0 percent.
Diversified earning areas beyond core lending: The operating KPIs include both National Leasing Platform Lease Portfolio (0.15 USD_B) and Wealth Management Assets Under Management (0.25 USD_B).

Bear case

Credit risk can change quickly in loan and lease books: The company originates and holds multiple types of loans and also does lease financing, so worsening credit performance would likely pressure results, which would show up in Nonperforming Loans and Leases and Allowance metrics.
Cost efficiency is a key vulnerability: The Efficiency Ratio is 64.18 percent, so if costs rise or revenues soften, operating leverage may be limited.

Valuation — source: SEC EDGAR (first-party)
Price	$15.81
Market Cap	$166.02M
P/E Ratio	13.8
Price / Book	1.12
Price / Sales	1.91
Dividend Yield	2.2%
FCF Yield	8.1%
DCF Value (model)	$18.54
DCF Upside vs Price	17.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$85.91M
Net Margin	13.5%
Return on Equity	8.1%
Revenue Growth (YoY)	2.6%
EPS Growth (YoY)	-14.8%
FCF Growth (YoY)	-35.0%

Valuation vs Sector & Industry
Stock P/E	13.8
Sector P/E (Financials)	15.1
Industry P/E (Banking)	13.0
vs Sector	-8.5%
vs Industry	6.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($7.86M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Garry D. Kleer
Employees	171
Country	US
IPO Date	2019-07-02

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.